Office Space for Lease in San Juan: 2026 Market Trends

San Juan’s office market continues to adjust to hybrid work and new workplace norms, with landlords getting more competitive to keep tenants in place. Here is what the office market looks like for anyone leasing space in San Juan in 2026.

Vacancy and Rents

Office vacancy across the San Juan metro has been rising, with some reports placing it as high as 26.5%, while others show improvement to roughly 18.5% on the strength of recent absorption. Either way, tenants have real leverage right now. Class A space typically runs $28 to $42 per square foot, while Class B space runs $18 to $27.

Landlords Are Getting More Flexible

As competition for tenants intensifies, landlords are offering expanded concessions, including tenant improvement allowances and extended free-rent periods during buildout. Lease structures are also evolving, with many deals now including early termination options, such as 5-year terms with 3-year outs or 10-year terms with 7-year outs.

Where the Activity Is: Hato Rey, Santurce & Guaynabo

Hato Rey remains San Juan’s financial core, with Class A buildings and Metro Office Park holding stable occupancy through traditional corporate tenants. Santurce and Miramar are emerging as creative hubs for tech and startup tenants, while Guaynabo continues to attract corporate campuses that prefer lower density and easier parking.

Work With Two20 Group

Two20 Group helps tenants and landlords navigate San Juan’s evolving office market, from lease negotiations to space planning. Contact us to talk through your office space needs.